Read GuirguisW's comment. "Au" in french - and in this context - means "to", in the sens "to the day". So you can translate it by "to the day when we meet again". So i guess it's the same for "Auf" in german.

The prefix "re" in spanish and catalanish usually means "again", "wieder".
In catalan language we say "a reveure" = "auf wiedersehen" The literal meaning of this sentence would be "We see us again" but normaly you translate that like "Goodbye".

that's probably right what you say (though a couple of people didn't like it) just that maybe the literal meaning in english is more like "until we see (each other) again" or "upon seeing you again" as others have pointed out

i put until next time and it accepted that. I mean, technically in English we would more likely say until next time, as opposed to saying until we see each other again, and accept them as interchangeable it just adds further to the confusion about what exact terminology you're using. :/

Tschüss means bye. And auf weidersehen means till we meet again. Its like the difference between guten tag and hallo. One translates to good day, and the other translates to hello. It informal and formal. Another example which may help somewhere else is du and Sie, Sie is like, sir and du is just you. Now Sie is very different from sie, though spelled exactly the same they mean very different things. One is a noun while the other is a pronoun so its easy to tell them apart, because all nouns are capitolized and pronouns and nouns are used differently in sentences. Though I am assuming, it is possible that german sentences are formed differently than english. However as they are sister languages it is a safe assumption. I really hope this helped.

I would also like to know this. I grew up using this word within my family (even though we dont speak German) and I was surprised to see that it is spelled "sehen" and not "sen" (or something similar).

I looked up the IPA transcription and it's: /aʊ̯f ˈviːdɐˌzeːn̩/ the two dots after the 'e' symbolize a prolonged vowel, so yes, it is like 'ze-en' except you don't have to stretch it for long.
The audio here: http://en.wiktionary.org/wiki/auf_Wiedersehen
is nice and clear! If you listen carefully and for several times, I'm sure you'll understand!
~Hope I helped~

Being native Italian, fluent in French and not so bad in English I find the study of German so fun, to me lot of resemblance with english, but I'm sure native english won't agree. In other cases some words are similar to latin languages. Take "Zitrone", french "citron" italian "limone". And many many more.